Ethereum (ETH) Daily Price Forecast – January 11

ETH/USD Medium-term Trend: Bearish

Resistance Levels: $240, $250, $260

Support Levels: $130, $120, $110

Yesterday, January 10, the price of Ethereum was in a bearish trend zone. The crypto’s price had been trading above the $150 price level in the last four days. It was assumed that the bears would break the $150 price since it was in the bearish trend zone. Now the bears have finally broken below the $150 price level and the EMAs.

The crypto has fallen to the $130 price level and it is likely to fall because it is below the EMAs. Meanwhile, the stochastic indicator is in the oversold region below the 20% range which indicates that Ethereum is in a strong bearish momentum and a sell signal. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.

ETH/USD Short-term Trend: Bearish

On the 1-hour chart, the crypto’s price is in the bearish trend zone. On December 10, the crypto fell to the $140 price level. Later, it depreciated to the $132 price level. The crypto is now ranging above the $129 price level. A bullish candlestick attempted to break the 12-day EMA and was repelled. The crypto’s price is in a downtrend.

The Stochastic is out of the oversold region but below the 80% range indicating that Ethereum is in a bearish momentum and a sell signal. The MACD line and the signal line are below the zero line which indicates a sell signal.

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